Majesco Announces New Release of the Insurance Test Automation
Framework

The new version includes significant enhancements and capabilities to
enable agility, innovation and speed for insurers

July 31, 2018 08:45 AM Eastern Daylight Time

MORRISTOWN, N.J.--(BUSINESS WIRE)--Majesco (NYSE American:MJCO), a global provider of core insurance
software and consulting services for insurance business transformation,
announced the release of a new version of the Majesco Insurance Test
Automation Framework, iTAF 2.0. The new version contains significant
enhancements and new capabilities, and is immediately available for use.

“Majesco’s Insurance Test Automation Framework offers several advantages
to the improvement of long-term effectiveness and efficiency of testing
processes,” commented Ganesh Pai, EVP of Majesco Consulting Services.
“Key among these are the breadth of tests and the speed at which tests
can be executed. These changes allow increased test coverage while
lowering manual quality assurance (QA) costs for insurers.”

With increased demands for speed and innovation of core, digital and
data solutions, the Framework offers insurance company QA teams the
ability to continuously evolve their processes, integrate new tools,
improve effectiveness and efficiency of repeatable tests, and expand
support for digital areas such as UI, mobile and web services. Key
benefits of the new Framework include:

Insurance business transformation is a journey of change and
revitalization, a renaissance of insurance. Approximately 160 insurance
companies worldwide in P&C, L&A and Group/ Employee Benefits are
transforming their businesses with Majesco’s solutions. Our market
leading software, consulting and services uniquely underpin the entire
insurance value chain and are designed to empower insurers with the
agility, innovation and speed needed to meet their transformation
opportunities. Majesco’s solutions include policy management, new
business / underwriting, rating, billing, claims management,
distribution management, BI/ analytics, predictive modelling, digital
platform with mobile and portal, testing services, cloud services,
bureau and content services, transformation services, consulting
services and more. For more information go to www.majesco.com.

Cautionary Language Concerning Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of the “safe harbor” provisions of the Private Securities
Litigation Reform Act. These forward-looking statements are made on the
basis of the current beliefs, expectations and assumptions of
management, are not guarantees of performance and are subject to
significant risks and uncertainty. These forward-looking statements
should, therefore, be considered in light of various important factors,
including those set forth in Majesco’s reports that it files from time
to time with the Securities and Exchange Commission and which you should
review, including those statements under “Item 1A – Risk Factors” in
Majesco’s Annual Report on Form 10-K.

Important factors that could cause actual results to differ materially
from those described in forward-looking statements contained in this
press release include, but are not limited to: integration risks;
changes in economic conditions, political conditions, trade protection
measures, licensing requirements and tax matters; technology development
risks; intellectual property rights risks; competition risks; additional
scrutiny and increased expenses as a result of being a public company;
the financial condition, financing requirements, prospects and cash flow
of Majesco; loss of strategic relationships; changes in laws or
regulations affecting the insurance industry in particular; restrictions
on immigration; the ability and cost of retaining and recruiting key
personnel; the ability to attract new clients and retain them and the
risk of loss of large customers; continued compliance with evolving
laws; customer data and cybersecurity risk; and Majesco’s ability to
raise capital to fund future growth.

These forward-looking statements should not be relied upon as
predictions of future events and Majesco cannot assure you that the
events or circumstances discussed or reflected in these statements will
be achieved or will occur. If such forward-looking statements prove to
be inaccurate, the inaccuracy may be material. You should not regard
these statements as a representation or warranty by Majesco or any other
person that we will achieve our objectives and plans in any specified
timeframe, or at all. You are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date of
this presentation. Majesco disclaims any obligation to publicly update
or release any revisions to these forward-looking statements, whether as
a result of new information, future events or otherwise, after the date
of this press release or to reflect the occurrence of unanticipated
events, except as required by law.